(CNN) — US Treasury Secretary Janet Yellen said Monday that she expects Russia’s economy to grow less over time as the country loses foreign investment and depletes its cash reserves.
“We will see an increase in losses over Russia’s economic trajectory over time, and their ability to refurbish military equipment that was destroyed in their attacks on Ukraine is at very great risk,” Yellen told CNN in an exclusive interview during her unannounced visit to Kiev.
And the US Treasury Secretary commented on US intelligence that China is considering increasing its support for Russia by supplying drones and ammunition, saying that “such a step will lead to dire consequences.”
“We have been very clear that we will not tolerate violations by any country of our sanctions aimed at denying Russia access to military equipment to wage this war,” she said.
“We have been very frank with the Chinese government, and made it clear to Chinese companies and financial institutions that the consequences of violating those sanctions will be very severe,” she said.
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